AI Adoption A 'Do Or Die' Moment For Companies, Says SandboxAQ CEO: 'There's Going To Be Winners And Losers'

Jack Hidary, CEO of SandboxAQ, recently emphasized the critical role of AI in determining the future of various industries.

What Happened: Hidary stated during CNBC’s “Last Call” on Wednesday, “AI… it’s a do-or-die moment right now.”

He highlighted that AI played a major role in the recent earnings of companies such as Microsoft, Google and Amazon. Now, the attention has shifted to Fortune 500 and Global 1000 companies and how they would capitalize on AI in the next 24 months for them.

“Are the pharma companies going to use AI? Are the automotive companies going to use AI? Are the energy companies going to use AI? There’s going to be winners and losers,” Hidary added.

See Also: Elon Musk Unfollows Tesla Investor Sawyer Merritt Over Alleged Confidential Information Leak: ‘Don’t Post … And Expect Me To Follow’

Why It Matters: Hidary’s comments come at a time when AI’s impact on the job market and industries is a hot topic. Microsoft Corp. CEO Satya Nadella recently expressed optimism about AI’s potential to increase wages by enhancing employee expertise.

Furthermore, tech giants like Microsoft, Meta Platforms Inc., and Google’s parent company Alphabet Inc. have significantly ramped up their AI investments, indicating a shift toward AI infrastructure.

Recently, also announced that its generative AI business has reached a “multibillion-dollar” revenue run rate, highlighting the strong demand for AI in transforming businesses and enhancing customer experiences.

Read Next: Musk Vs. Moskovitz Rages On As Tesla CEO Trolls Facebook Co-Founder’s Company: ‘Why Would Anyone Pay Money For Functionality That Comes For Free On Your Phone?’

Image Via Shutterstock

Engineered by Benzinga Neuro, Edited by Pooja Rajkumari

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Market News and Data brought to you by Benzinga APIs
Posted In: Analyst ColorNewsTechGeneralAIAI industryAmazonConsumer TechFortune 500GoogleJack HidaryMicrosoftPooja RajkumariStories That Matter
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!